Dec 5, 2012 6:30pm EST
. >> reporter: freeport mcmoran tried to assure investors today that getting into the energy business doesn't mean the company is turning its back on mining. under the deal, freeport will pay $6.9 billion for plains exploration and production and $2.1 billion for mcmoran exploration, a sister company it was separated from a couple of decades ago. the deal would also leave freeport with $20 billion of debt. freeport executives say getting into oil and natural gas would help diversify the company and keep more of its assets in north america, where there's a huge shale gas boom. they estimate by next year freeport will derive a little more than a quarter of its profits from energy and the rest from mining, versus 100% from mining today. the company says it thinks demand for commodities, especially energy, will continue to grow. that could help offset the increased difficulty mining companies are having trying to find new projects in regions outside the u.s. and with interest rates currently at historic lows, the timing was right to ink the two deals. dica. chicago. >> tom: daniel rohr is a met
Dec 5, 2012 9:00am EST
. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's start with bigger of the two deals. freeport's purchase of plains. approximately $6.9 billion in total
Dec 5, 2012 1:00pm EST
broken investors' trust by diversifying into energy with these $9 billion deals. back to you, sue. >>> we are just off the highs of the day, up 130 points. we'll continue to follow the markets for you. >>> plus, emergency landings and inspections by regulators. growing pains for boeing's new dreamliner. >>> plus, netflix's deal with disney. is it really a game changer? phil lebeau and julia boorstin all over those big stories. phil, you first. >> sue, right now as we speak a technical team from boeing is in new orleans looking at that dreamliner after the emergency landing. we'll have the latest in just a bit. >>> but first out to julia in los angeles. >> netflix says the company is taking a big step forward. we'll tell you how and how much it is worth after the break. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being re
Dec 5, 2012 3:00pm EST
decline for apple. branching out into the energy sector, starbucks not only $450 made of steel gift cards, but talk about opening 3000 new stars, citigroup 11,000, job layoffs and bank of america had to put this one on here, guys. up 5% today. this is the best performing dow component so far this yearras we head into the final trading days of the year. bank of america doing very well coming above the $10 mark that has not been there for quite some time. look at the dow 30, only five stocks right now in the red. still looking pretty good to end the session. liz: yesterday intel was one of the better performers. today it is the worst performer of the dow jones industrial. looking at the fickle number, what about u.s. stocks against other opportunities read >. >> all of a sudden up nicely, i think they have been whacked and a goodbye right here. >> they are not transparent enough. many are swirling around, you're okay? >> never you own a monopoly, they don't like to make compromises. liz: december 14 visit 14 is a. >> they are due to get the iphone. liz: what other areas do you like with ch
Dec 5, 2012 12:00pm EST
bank of america, citi among big winners today from the financial space. energy stocks having a pretty good day. s&p is also up about seven points trading right now at 1,414. the nasdaq remains the laggard of the day. what an interesting day there it's been not only at nasdaq marketsite but an ipo that couldn't get out of the blocks. certainly what's taking place with shares of apple? let's throw up apple right here. the nasdaq rebounding a bit but apple shares having their worst day in about a year. a significant loss for that stock. $24-plus for shares of apple in the losing column today. let's hit the biggest "pops & drops" in midday trading. hp. it's popping. >> yeah. this company was the victim of hate bashing party a couple of weeks ago on the autonomy acquisition. i think it was the sentiment low in the stock. it's up here. i prefer dell over hp though. >> waste management. >> if you're looking for a pe that is appetizing, it is a 15-year. dividend is 4.4%. goldman sachs actually cleaning dawn in the trash area from conviction buy on one of the names also lifted this thing as we
Dec 5, 2012 1:00pm EST
here. what is interesting when you have mergers and acquisition particularly in energy this is something that brings positive sentiment to wall street. let's look at freeport-mcmoran. also taking a look at other names that are involved, right? you're looking at, see how they are faring. plains exploration is up 25%. mcmoran exploration up 82%. freeport-mcmoran is buying both of those together. this is $9 billion. this is about oil and gas producers and it will create a natural resources conglomerate. this is a huge, huge move. freeport-mcmoran is a name we always took to when we talk about commodities and things on the move and on a day where oil and gold are to the downside, gold in particular talking about freeport-mcmoran, copper and gold. you can see it is down 14%. that is not unusual to see an acquirer selling off as the two that are being acquired are gaining big-time. this is the action we're seeing in this mining and oil and exploration type deal and this is a big one. certainly scooped up wall street this morning. back to you. melissa: nicole, thanks so much.
Dec 5, 2012 4:00pm EST
oil production reaching its highest level in nearly 15 years in september. the energy information administration says daily production averaged 6.5 million barrels. that is 16% increase from one year ago. >>> starbucks planning to add 3,000 stores over the next five years with at least half of them in the u.s. the coffee giant expects more than 20,000 stores on six continents within just two years. >>> zappos ceo pledges one million dollars to help bring college grads to las vegas. graduates will work to support sin city start us small businesses and real estate projects. >>> research firm idc says greater variety among tablets is boosting demand but more players could not be good news for apple. the firm expects apple's market share to drop 3% of the part of that report brought the stock down today. >>> amazon launching service for kindles including movies, games and books. $2.99 per child for amazon's prime members. [buzzer] great, more movies and games on a kindle. david: just what they need port workers in los angeles and long beach are returning to work today. thank goodness,
Dec 5, 2012 11:00am EST
management rose 54.7. shares of energy are searching today after the company announced with its french partner oil company that they had made a significant oil discovery at the north platte offshore property in the gulf of mexico. elizabeth murdoch and one of -- died at the age of 103. she is survived by three of her four children. news corporation is the parent of the fox business network. that is the latest from the fox business network. giving you the power to prosper. ♪ [ male announcer ] this is amy. amy likes to invest in the market. she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. before facebook is joining the nasdaq 500. connell: shibani joshi in the newsroom with this story. shibani: it is about time if you are a facebook investor. it wanted to be in the presence of the tech grades.